Next week’s Irish Farmers Journal will have your free copy of the Agricultural Land Price Report 2024 – this will be our 18th edition.

The report shows that, for the third year, farmland prices remained relatively stable, with average price increasing just slightly last year. This recent stability follows a decade of steady growth.

It also outlines the factors that impacted the land market in 2024. Farmer profitability was under pressure and this had a significant effect. Land prices fell in key, dairy-dominated counties.

Investor interest

However, part-time farmers, including PAYE workers and self-employed, as well as investors were active.

Behind the averages, there was good demand for prime, large farms. A number of large estates with period houses were purchased by international buyers. High prices were paid for good equestrian properties.

Plainer land met good demand, too, and prices have risen for some types of designated land and bog. This is a result of payments available under environmental-led schemes.

Prices continue to rise in Northern Ireland. The average price there is now about 28% higher than the average in the Republic.

The high prices in Northern Ireland are spilling over into border counties, and as a result, pulling them up.

Our report has analysis of prices in all counties in the Republic of Ireland and Northern Ireland and looks ahead at the outlook for 2025.

It also outlines the outlook for Ireland’s nitrates derogation. It will examine the lack of farming successors, planning permission difficulties for rural dwellers and possible changes to who can qualify for Agricultural Relief from Capital Acquisitions Tax.